Europe
Allianz acquires French windfarm
Allianz has acquired the Langres Sud wind farm from project developer, constructor and operator EOLE-RES SA.
QBE raids Allianz for new broker manager
QBE has appointed Judy Holt to the newly created role of manager, broker development, to support the continued expansion of QBE’s offering in the UK and Ireland.
Quinn's CEO quits
Colin Morgan, chief executive office of Quinn Insurance, has decided to leave the company to pursue other opportunities.
Miller poised to join international broking network
Assurex Global is poised to appoint Miller as one of two new UK partners, after a long search to replace HSBC Insurance Brokers.
Lancashire Holdings upgraded by S&P
Standard & Poor's has assigned an "A-" counter-party rating and financial strength rating on Lancashire Holdings subsidiaries Lancashire Insurance Company and Lancashire Insurance Company (UK) Limited.
Lloyd's China granted licence to write direct insurance
Lloyd’s China has been granted a licence by the China Insurance Regulatory Commission to write direct insurance in addition to their existing reinsurance licence.
E&Y warning over emerging markets
Emerging markets continue to offer growth but insurers need to keep this in perspective according to a panel at Ernst and Young's global insurance conference in Paris.
Towers Watson issues Solvency II insurer warning
Risk management consultancy Towers Watson has warned that insurers may be “cutting corners” in their approach to the Solvency II’s QIS5 exercise.
Swiss Re: Insurers should not ignore 'the elephant in the room'
Against the backdrop of the upcoming regulatory framework in Europe – Solvency II – Swiss Re has outlined how it believes insurance risk managers can shape their companies’ risk management culture in the post-crisis world.
Risk presentation key, claims international broker survey
According to new research commissioned by Bowring Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.
Portugese FS group "weighed down" by "stagnant non-life market"
Portugese financial services group Espírito Santo Financial Group has reported a 29.6% year on year decline in net income to Euro 21m (Euro 29.8m).
Allianz CEO bemoans commercial rate inactivity as profits dip 10.7%
Allianz reported gross written premium was up 4.4% to £411.3m (2009 Q1: £393.8m) over same period in 2009.
European GI CEO Annette Court out in Zurich reshuffle
Zurich Financial Services today announced a streamlined management structure and related senior management appointments. The changes come into effect on 1 July.
French insurance group sees international revenue soar
CNP Assurances recorded €9.4 bn in premium income, of which €1.9 bn came from operations outside France, in the first quarter of 2010.
German insurer unveils new board members
German insurance group ERGO has appointed a new supervisory board at its AGM.
Cypriot deal finalised
Eureko has closed the sale of 98.9% of shares in Interlife Insurance and 100% of the shares in Interamerican Assistance to Rodardo.
Quinn administrator pulls plug on UK PI business
Quinn Insurance will not reopen its professional indemnity business in the UK despite the likelihood it will recommence underwriting other commercial lines.
Amlin benefits from ACI acquisition with 32.1% hike in GWP
Amlin this morning reported gross written premium (before deduction of brokerage) was up 32.1% for the four months ended 30 April 2010 at £964.0m (30 April 2009: £729.7m).
XL remains in S&P 500 index
XL Capital will remain in Standard and Poor’s 500 index following redomestication of the parent holding company from the Cayman Islands to Ireland.
Generali sees GI profit reduced by 25.4% in Q1
Italian insurance giant has recorded a non-life combined ratio of 98% in quarter one 2010 (96.3% 1Q09; 99.5% 4Q09) after an increase in catastrophic events.
Ageas records loss in quarter one
Ageas today reported a 20% increase in premium over the first quarter of 2010 to EUR 5bn when compared with Q1 2009.
Aviva signs three year deal with trade union
Aviva France has signed a three-year agreement on the employment of older people.
PZU share prices soar on first day’s trading
The share prices in Polish insurer PZU rose 13% on their first day of trading in Warsaw, Bloomberg has reported.
FSB welcomes Con-Lib pact plans on CGT and personal tax
Business leaders have welcomed the agreement between the Conservative and Liberal Democrat parties to form the next Government.